ASELSAN continues to maintain its position as ranked 48th. According to data, ASELSAN earned $2 billion 218 million in revenue in the field of defence in 2020. 96% of the company’s revenues come from the sales of defence products. ASELSAN is the only Turkish company in the top 50 by ranking 48th.

TUSAŞ was ranked 53rd last year. The total revenue of the company from defence products in 2020 is 1 billion 256 million dollars. The volume was 1 billion 858 million dollars in 2019. There is a decrease of about 32%. 84% of the company’s revenues come from the sale of defence products. In 2020, seven Turkish companies entered the list. Turkish companies were listed as: 

ASELSAN: 48

TUSAŞ: 53

BMC: 89

Roketsan: 91

STM: 92

FNSS: 98

HAVELSAN: 99

Global List

The list indicates that the pandemic had effects on both sides. Aviation companies faced financial difficulties, but the industry overall grew.

Boeing, Airbus and Leonardo are located at the top of the list, where the US Lockheed Martin is at the top. In the top 10 of the list, there are six companies from the USA, three companies from China and one company from the UK.

While Lockheed Martin has been at the top of the list for years, radical changes are seen in the rest of the list. For example, Boeing company, which has been in second place for years, is replaced by Raytheon Technologies Corporation. Raytheon Company (ranked 5th last year) and United Technologies Corporation (ranked 10th last year) merged in April 2020 to form the Raytheon Technologies Corporation.

China’s two largest shipbuilding conglomerates, China Shipbuilding Industry Corporation (ranked 14th last year) and China State Shipbuilding Corporation (ranked 24th last year), merged in November 2019 to create China State Shipbuilding Corporation Limited. Total revenue only reflects the company’s shipbuilding business. Its defence revenue reflects defence-related activity from the overall shipbuilding business.

The Top 100 list shows that companies are joining forces in this difficult time and that China, which has been on the lists for the last two years, became more visible. This year’s list includes 22 new company names. Part of that is due to mergers since last summer. For example, Raytheon Technologies —a combined United Technologies Corporation and Raytheon Company —debut at No. 2nd.

Some of those new additions are due to recently found revenue figures, which were high but not declared previously.

Last year’s 100th company on the list had just less than $300 million in defence revenue. This year, the list became more challenging as the 100th firm has less than $600 million.

The list also indicates new sectors growing like the cyber firm ManTech, the space company Parsons Corporation, the satellite imagery company Maxar Technologies, sensor company FLIR Systems, and emerging technologies company Alion Science and Technology. The new list reflects how the industry is bending and evolving toward that future.